Short Interest in Pharos Energy PLC (OTCMKTS:SOCLF) Drops By 47.0%

Pharos Energy PLC (OTCMKTS:SOCLF) was the target of a large drop in short interest in the month of May. As of May 29th, there was short interest totaling 9,803 shares, a drop of 47.0% from the May 14th total of 18,487 shares. Based on an average trading volume of 810 shares, the short-interest ratio is presently 12.1 days. Approximately 0.0% of the shares of the company are short sold.

Pharos Energy Price Performance

Pharos Energy stock opened at $0.43 on Monday. Pharos Energy has a 52-week low of $0.24 and a 52-week high of $0.43. The firm has a 50-day moving average price of $0.39 and a two-hundred day moving average price of $0.33.

Pharos Energy Company Profile

Pharos Energy PLC is a London-headquartered independent oil and gas exploration and production company. It focuses on the development, production and optimisation of upstream hydrocarbon assets, with a particular emphasis on cost-effective field operations and reservoir management. The company’s corporate office is based in the City of London, underlining its status as a UK-listed operator with an international footprint.

The company’s flagship asset is its interest in the West Gharib onshore concession in Egypt’s Gulf of Suez region, where Pharos Energy oversees drilling, production, facility maintenance and reservoir surveillance.